Lev Capital Arranges $14.55M Bridge Loan For Mixed-Use Properties In Midtown And Upper East Side

Two mixed-use properties in Midtown and the Upper East Side were involved in a recent transaction. The properties are located at 117 West 57th Street and 128 E. 86th Street. The deal was closed on 11/05/2021.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $14,550,000
• Market: Midtown & Upper East Side

The lender for this transaction was Ladder Capital, providing a bridge loan. The loan amount was $14,550,000, with a 2-year term and a 70% Loan-to-Value (LTV) non-recourse. The interest rate for the loan was 5.25%.

The landlords involved in this deal were Steven Kachanian from @KlosedProperties and Igal Namdar from @NamdarLLC. The brokers representing the transaction were Yaakov Zar, Ofir Shalom, and Ellene Bricolas from Lev Capital.

For more information about the deal or if you're looking for competitive CRE financing in NYC, you can contact Ofir at [email protected], according to a note from Lev Capital.